Triggers Hit In Leveraged Tranches

Credit spread widening has brought some leveraged tranches of asset-backed collateralized debt obligations to the trigger levels that force the structures to delever.

  • 10 Aug 2007

Credit spread widening has brought some leveraged tranches of asset-backed collateralized debt obligations to the trigger levels that force the structures to delever.

Concern is focused on Canadian conduits, the investment vehicles that bought up leveraged super senior notes in large sizes. Some conduits are backed by large ...

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